Weekly Newsletter - October 16, 2024
Latest additions to CAalley:
News Update:
Exposure Draft:
Useful Forms:
From the ICAI:
ICAI Publications - Quality Review Board
Legal Updates:
News Update:
Sebi introduces liquidity window facility for investors in debt securities
ICAI takes matters into its own hands with new quality management standards
Sebi raises F&O position limits to above Rs 7,500 crore or 15% of total OI
Stricter regulatory stance: Now, Esops get the Press Note 3 treatment
Audit quality: Regulatory bodies set for tussle
To clear all doubts on Vivad Se Vishwas Scheme 2024 Income Tax dept releases FAQ
SUV makers hit with Rs 10,000 cr tax notices: Row over GST cess explained
RTGS transactions in dollar, pound and euros soon? Here’s what RBI is planning
Sebi urges investors to deal with only registered persons and entities
EPFO issues new rules for employers on digital signatures and e-signatures! How will it impact you?
India less export-oriented, US tariff hike won't impact nation: Fitch
'High-risk' income tax refund claims under scanner
SEBI panel mulls new category of commodity funds
GST notices to foreign airlines ‘regularised’
CGST busts two fake invoice frauds of ₹760 crore
PwC India collaborates with Meta to expand open-source AI solutions
Delhi ITAT allows US LLC to avail of India-US tax treaty benefits
Over 40 per cent of ICAI probes reveal CA misconduct
Star Health breach: Beware, your Aadhaar, PAN, password leak risk fraud
Shirdi’s Saibaba Sansthan eligible for income tax exemption on anonymous donations: HC
Two CGST officers, middleman held for taking 1.25L bribe
RBI asks asset reconstruction firms to standardise credit bureau reporting
Direct payout of securities: Sebi extends deadline to November 11
RBI asks banks to use info from all relevant sources for risk assessment
NFRA slaps penalty of Rs 2 crore on Coffee Day auditors, bars CAs
FEMA violation: ED slaps ₹2.1K cr penalty on NBFC running loan app with Chinese links
New GST rules force tenants to bear 18% tax burden
GST relief for foreign airlines, academic institutions
Sebi calls for stricter review of AIF investors
Nearly 50,000 internship opportunities posted on portal: MCA officials
Carbon tax proposed by EU unilateral, arbitrary to hurt India's export: FM Sitharaman
ICEAW: AI adoption challenges: an ethical dilemma for auditors
Four accountancy firms complete FRC governance transition
FRC issues AI guidance; IAASB increases commitment to technology
AI promises more efficiency but won’t replace auditors
KPMG backs 120-credit hour alternative CPA licensure option
Exposure Draft:
Consultation Paper on “Opening of demat account in the name of Association of Persons (AOPs) for holding certain securities in dematerialized form”
[Last date for Comments: November 5, 2024]
Useful Forms:
Common offline utility for Form 3CA-3CD and 3CB-3CD has been updated
Webinar PPT for 3CA-3CD & 3CB-3CD
ITR 5 - Windows & MAC Utility have been updated
From the ICAI:
ICAI Publications - Quality Review Board:
Guidance on Non-Compliances Observed by Quality Review Board During Quality Reviews (Volume 2) [Published in July 2024]
Part 1: Observations related to Engagement and Quality Control Standards
Part 2: Observations related to CARO and IFC
Legal Updates:
Guidance Note 1/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024 [Circular No.12]
Extension of due date for filing audit report in Form No.10B/10BB for AY 2023-24 [Order]
Important advisory for GSTR-9/9C
Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions
Clarification of various doubts related to Section 128A of the CGST Act, 2017 [CGST Circular No.238]
Clarifications regarding applicability of GST on certain services [Circular No. 234]
Seeks to amend Notification No. 50/2018-Central Tax dated 13.09.2018 [CGST Notification No.25]
Seeks to amend Notification No. 5/2017-Central Tax dated 19.06.2017 [CGST Notification No.24]
The Companies (Adjudication of Penalties) Second Amendment Rules, 2024
Facilitating accessibility to digital payment systems for Persons with Disabilities - Guidelines
Submission of information to Credit Information Companies (CICs) by ARCs
Monitoring of position limits for equity derivative segment
Monitoring Shareholding of Market Infrastructure Institutions (MIIs)
Change in timing for securities payout in the Activity schedule for T+1 Rolling Settlement
